Education

MCD collects Rs 1,500 cr property tax in 2010

PTI Municipal Corporation of Delhi | Updated on April 12, 2011 Published on April 12, 2011

Municipal Corporation of Delhi, which has been going all-out to increase its dwindling cash reserves, today said it has collected Rs 1,500 crore in property tax during the financial year 2010-11 — an all-time high.

The Chairman of MCD Standing Committee, Mr Yogender Chandolia, said the gross collection during the financial year 2009-10 was Rs 1,158 crore.

“Thus, MCD has been able to collect 29.5 per cent more property tax this year as compared with last year. The gross property tax collection this fiscal has increased by Rs 342 crore,” he said.

The transfer duty collection during 2010-11 is Rs 728 crore as compared with Rs 460 crore during 2009-10. The pure property tax collection during 2010-11 is Rs 772 crore as compared with Rs 697 crore during 2009-10. The growth in collection of pure property tax collection is 10.6 per cent.

The Chairman of the Standing Committee informed that as a result of MCD’s efforts, the number of taxpayers has also increased from 9.8 lakh last year to 10.4 lakh this year. In terms of percentage, there has been a growth of 5.5 per cent in number of taxpayers.

MCD had launched two settlement schemes, one under the old rateable value system and other under the unit area method introduced from 2004. Both the schemes were on till March 31.

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Published on April 12, 2011
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